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Rappler's latest stories on economics

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U.S. tells Thunberg to 'study economics' in Davos climate spat

Jan 24, 2020 - 12:35 AM

The spat between US Treasury Secretary Steven Mnuchin and Greta Thunberg highlights the tensions over climate change at the World Economic Forum in Davos

MNUCHIN. US Treasury Secretary Steven Mnuchin attends a session at the Congres center during the World Economic Forum in Davos, on January 21, 2020. Photo by Fabrice Coffrini/AFP

Central Luzon police set up at eco-zones to prevent union organizing

Jan 23, 2020 - 4:48 PM

'Central Luzon remains a major flashpoint for communist insurgency and in the white area operation,' says Central Luzon police chief Brigadier General Rhodel Sermonia

NO TO MILITANT LABOR. Police and economic zone offiicals – led by PNP chief Lieutenant General Archie Gamboa, Brigadier General Rhodel Sermonia, PEZA Director Charito Plaza, and Secretary Carlito Galvez at  the launch of JIPCO at Clark Freeport Zone in Pampanga. Photo courtesy of PRO3 PIO

Philippines misses GDP growth target for 2019

Jan 23, 2020 - 10:00 AM

(UPDATED) GDP growth picks up in the 4th quarter of 2019, but the impact of the budget impasse proves to be too much as the overall target is not met

Suspected Russian 'plumber' spies found in Davos in 2019

Jan 21, 2020 - 11:33 PM

A Swiss newspaper says the two men, who were stopped but not arrested in August 2019, were suspected of carrying out 'preparatory work' for spying on the World Economic Forum, which is taking place in Davos this week

Trump rejects climate 'prophets of doom' as Thunberg warns Davos

Jan 21, 2020 - 6:30 PM

(UPDATED) Meanwhile, Greta Thunberg underlines the message that has inspired millions around the world – that governments are failing to wake up to the reality of climate change

TRUMP AT DAVOS. US President Donald Trump delivers a speech at the Congress center during the World Economic Forum  annual meeting in Davos, on January 21, 2020. (Photo by Fabrice Coffrini/AFP

Taal Volcano's economic impact minimal so far, says NEDA

Jan 20, 2020 - 6:10 PM

The National Economic and Development Authority says foregone revenue due to the Taal Volcano eruption could reach almost P7 billion, but this would not make a dent in the overall economy

Filipinos find it hard to move up the social ladder – WEF

Jan 20, 2020 - 3:25 PM

The Philippines ranks 61st out of 82 countries in social mobility, says the World Economic Forum's inaugural Global Social Mobility report

Trump and Thunberg face off as Davos warms to climate action

Jan 17, 2020 - 9:23 PM

From climate change to tensions in the Middle East, via trade conflicts and fears of pandemics, over 3,000 delegates at the World Economic Forum will thrash out challenges as imposing as the Swiss Alps

CLIMATE ACTION. In this file photo taken on January 25, 2019, Swedish youth climate activist Greta Thunberg holds a placard next to students during a "School strike for climate" held on the sidelines of the World Economic Forum (WEF) annual meeting in Davos, Switzerland. Photo by Fabrice Coffrini/AFP

Davos bosses sound alarm over climate, political fires

Jan 15, 2020 - 6:06 PM

The World Economic Forum says the survey is a call to arms as wildfires rage in Australia and governments struggle to articulate collective action on climate change

WORLD ECONOMIC FORUM. In this file photo taken on January 21, 2019, a man walks past a sign of the World Economic Forum (WEF) ahead of the WEF annual meeting at the Congress Centre in Davos, eastern Switzerland. File photo by Fabrice Coffrini/AFP

Trump to headline Davos summit

Jan 14, 2020 - 10:35 PM

The meeting's theme this year is 'Stakeholders for a Cohesive and Sustainable World' and it will place an emphasis on a more inclusive model of capitalism

TRUMP IN DAVOS. US President Donald Trump waves after delivering his speech during the World Economic Forum (WEF) annual meeting on January 26, 2018 in Davos, eastern Switzerland. Photo by Fabrice Coffrini/AFP

Global economy faces fragile recovery beset by risks – World Bank

Jan 09, 2020 - 6:25 PM

The World Bank projects the global economy will grow by 2.4% in 2020. But forecasts for nearly every country are cut compared to previous estimates.

Brazil President Jair Bolsonaro to skip Davos meeting

Jan 09, 2020 - 12:27 PM

A Brazilian delegation will still be present, though details are still unclear

BOLSONARO. Brazilian President Jair Bolsonaro gestures during the commemoration ceremony of the National Volunteer Day, at Planalto Palace in Brasilia, on August 28, 2019. File photo by Evaristo Sa/AFP

[ANALYSIS] 2020s: Can we sustain the stellar growth of the 2010s?

Jan 03, 2020 - 11:14 AM

There’s a lot to be thankful for in the 2010s when more Filipinos became more prosperous and healthy, so much so that the 2010s might be considered our economy’s true 'golden age.'

Duterte's economic team approves 12 infrastructure projects

Dec 20, 2019 - 9:55 PM

Dennis Uy's unsolicited proposal for the Davao International Airport, the Panay-Guimaras-Negros Bridge, and MRT4 are just some of the projects approved by the Investment Coordination Committee

Philippines drops to No. 16 in Gender Gap Report 2020

Dec 17, 2019 - 6:20 PM

The World Economic Forum notes a considerable widening of the political empowerment gap in the Philippines

FEMALE WORKERS. Female laborers in the Philippines have long struggled for fair practice. File photo from AFP

Gender workplace equality 257 years away – WEF

Dec 17, 2019 - 12:59 PM

While women appear to be gradually closing the gender gap in areas such as politics, health and education, workplace inequality is not expected to be erased until the year 2276, says a report by the World Economic Forum

A Lebanese woman poses with her face painted with a red hand as she takes part in a march in Beirut on 07 December, 2019. The NGO Abaad joined forces with different feminist groups to help break the silence around crimes of harassment and sexual assault. ABAAD is an independent civil association that aims to achieve gender equality in the MENA region. (Photo credit should read "PATRICK BAZ/ABAAD/AFP-Services") PATRICK BAZ / ABAAD / AFP-Services

3 more Chinese men nabbed for sex trafficking at Clark Freeport

Dec 07, 2019 - 8:46 AM

Nine Chinese women are rescued from a room at ON Pool Villas during the sting operation. They are at the regional social welfare office as authorities coordinate with the immigration bureau.

Poverty in Philippines falls in 2018

Dec 06, 2019 - 11:45 AM

With poverty incidence falling to 16.6% in 2018, the Philippine government says it is on track to meet its target of 14% by 2022

China outclasses West in key education survey

Dec 04, 2019 - 9:57 AM

The survey showed students in the 4 Chinese regions of Beijing, Shanghai, Jiangsu and Zhejiang – as well as Singapore – topped the rankings, ahead of their Western counterparts in reading, mathematics and science

HIGH PERFORMING. File photo of high school students in Beijing, China. Shutterstock.com

Iran leader backs petrol price hike that sparked deadly unrest

Nov 17, 2019 - 6:08 PM

40 'disruptors' are arrested in the central city of Yazd after clashing with police

OIL PRICE HIKE. Iranian protesters rally amid burning tires during a demonstration against an increase in gasoline prices, in the central city of Isfahan on November 16, 2019. Photo by AFP

Grace Padaca found guilty of corruption, ordered to return P18M

Nov 15, 2019 - 7:57 PM

The former Isabela governor is sentenced to 12-14 years for a conviction for malversation, and 6-10 years for a conviction for graft. It is appealable.

GUILTY. Former Isabela governor Grace Padaca is convicted of graft and malversation over an anomalous P25 million loan deal for farmers in 2006. Rappler file photo

China's economy: Powerful, yes, but vulnerable

Nov 14, 2019 - 9:00 PM

China's rapid growth has produced prosperity and reduced poverty. It has also generated less wholesome economic, social, and ecological consequences which are now catching up with it.

PH Navy to build Fuga Island outpost ahead of Chinese 'smart city' plan

Nov 14, 2019 - 1:45 PM

The government realizes the need to establish a military presence on the northern frontier island where a Chinese company plans to build a business hub

[ANALYSIS] Is the Philippine economy in the pink again? Not exactly

Nov 08, 2019 - 6:50 PM

Latest data betray troubling trends in the economy that soon need to be addressed

Duterte's team changes tune on PPPs as infra push gets reality check

Nov 07, 2019 - 3:05 PM

Presidential adviser Vince Dizon says the Duterte administration is now more open to public-private partnerships, but would get rid of deals that fail to 'promote public interest'

Philippine GDP growth jumps to 6.2% in Q3 2019

Nov 07, 2019 - 10:06 AM

(UPDATED) While economic growth rises in the 3rd quarter, the Philippines is still almost certain to miss its target for 2019

India will not join RCEP trade deal in blow to sprawling Asian pact

Nov 04, 2019 - 11:55 PM

'Our decision was guided by the impact this agreement will have on the ordinary human beings of India and livelihood of people, including the poorest of the poor,' says a senior Indian diplomat

RCEP. (From L to R) Singapore's Prime Minister Lee Hsien Loong, Myanmar's State Counsellor Aung San Suu Kyi, Laos' Prime Minister Thongloun Sisoulith, Cambodia's Prime Minister Hun Sen, New Zealand's Prime Minister Jacinda Ardern, India's Prime Minister Narendra Modi, China's Premier Li Keqiang, Thailand's Prime Minister Prayut Chan-O-Cha, Vietnam's Prime Minister Nguyen Xuan Phuc, Australia's Prime Minister Scott Morrison, Japan's Prime Minister Shinzo Abe, South Korea's President Moon Jae-in, Brunei's Sultan Hassanal Bolkiah, Indonesia's President Joko Widodo, Malaysia's International Trade and Industry Minister Darell Leiking and Philippines' Trade Secretary Ramon Lopez pose for a group photo during the 3rd Regional Comprehensive Economic Partnership (RCEP) Summit in Bangkok on November 4, 2019, on the sidelines of the 35th ASEAN Summit. Photo by Manan Vatsyayana/AFP

World's biggest trade deal to be delayed to 2020 – draft ASEAN statement

Nov 03, 2019 - 5:55 PM

(UPDATED) Objections by India have dashed hopes of finalizing the Regional Comprehensive Economic Partnership at the ASEAN Summit 2019

ASEAN-INDIA SUMMIT. ASEAN leaders and India's Prime Minister Narendra Modi (6th from left) pose for a group photo during the 16th ASEAN-India Summit in Bangkok on November 3, 2019, on the sidelines of the 35th Association of Southeast Asian Nations (ASEAN) Summit. Photo by Lillian Suwanrumpha/AFP

[OPINION | Dash of SAS] NEDA official accused of sexual harassment still in office

Oct 25, 2019 - 9:00 AM

It has been nearly 9 months since the report was submitted to the Office of the President for a resolution. The silence from Malacañang is deafening.

Teenage pregnancy dragging PH economic growth – Pernia

Oct 24, 2019 - 9:36 AM

For the Philippines to bring down poverty incidence to just 14% by 2022, Socioeconomic Planning Secretary Ernesto Pernia says that the government should look into teenage pregnancy first

Expensive, too much work: Duterte’s team rethinks infra projects

Oct 23, 2019 - 12:42 PM

From 75, the new list of big-ticket infrastructure projects will include 91 smaller but more feasible projects, says Socioeconomic Planning Secretary Ernesto Pernia

Duterte's bridges linking Luzon, Visayas, Mindanao shelved

Oct 23, 2019 - 11:44 AM

'It can be taken up again in the next administration. At least they will know by now that they will spend more and make sure that they can cope with the challenge,' says Socioeconomic Planning Secretary Ernesto Pernia

Rappler Talk: Ernesto Pernia on Ambisyon Natin 2040

Oct 23, 2019 - 11:00 AM

Socioeconomic Planning Secretary Ernesto Pernia discusses the plan to lift all Filipinos out of poverty by 2040

[ANALYSIS] Why this year’s Nobel Prize in Economics is relevant to Filipinos

Oct 15, 2019 - 12:03 PM

It's a testament to the power of research, scientific thinking, and empirical evidence in the crafting and implementation of economic policies and programs

Trio wins 2019 Nobel Economics Prize for work on poverty

Oct 14, 2019 - 6:01 PM

(UPDATED) 'This year's laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty,' the jury says of Abhijit Banerjee, Esther Duflo, and Michael Kremer

NOBEL WINNERS. Indian-born Abhijit Banerjee of the US, French-American Esther Duflo and Michael Kremer of the US win the Nobel Economics Prize for their 'experimental approach to alleviating global poverty,' the Royal Swedish Academy of Sciences says. Photo by Jonathan Nackstrand/AFP

Nobel season wraps up with Economics Prize

Oct 14, 2019 - 1:07 PM

The name of the winner or winners will be revealed at 11:45 am (0945 GMT; 5:45 pm Manila time)

Philippines to miss 2019 economic growth target – World Bank

Oct 10, 2019 - 10:05 PM

Global trade tensions and domestic politics spoil the Philippines' dream to be among Asia's economic juggernauts

In a twist, PEZA now supports Citira bill

Oct 09, 2019 - 5:10 PM

The Philippine Economic Zone Authority Board changes its tune after a 'cordial' meeting and now backs the bill seeking to rationalize tax perks

PH health care, infra, institutions among worst in the world – WEF

Oct 09, 2019 - 2:00 PM

The Philippines is down 8 spots in the World Economic Forum's 2019 Global Competitiveness Report

Gordon on slow APECO dev't: 'I want it done'

Oct 02, 2019 - 5:33 PM

Indigenous peoples whose ancestral lands would be affected by APECO are ignored in the budget hearing for 2020

Mr. Israel Maducdoc, president & CEO Asia Pacific Economic Zone and Freeport Authority (APECO) at the senate hearing on the proposed 2020 budget of SBMA and APECO. October 2, 2019. Photo by Angie de Silva/Rappler

ADB sees Philippines still hitting 2019 economic growth target

Sep 25, 2019 - 1:50 PM

The Asian Development Bank cuts its growth outlook for the Philippines to 6% in 2019, just clinging on to the lower end of the government's target band

[OPINION] Navigating the new globalization

Sep 19, 2019 - 5:30 PM

It is only through cultivating a high-trust society that this whole-of-society approach to development could work

West African leaders agree billion-dollar anti-jihadist plan

Sep 15, 2019 - 10:07 AM

The fund would help reinforce the military operations of the West African countries in their fight against jihadist attacks in the region

ECOWAS. (From L-R) Presidents Ibrahim Boubacar Keita of Mali, Alassane Ouattara of Ivory Coast, Idriss Deby of Chad, Mahamadou Issoufou of Niger, Roch Marc Christian Kabore of Burkina Faso, Faure Gnassigbe of Togo, Macky Sall of Senegal, and Muhammadu Buhari of Nigeria pose after the opening ceremony of ECOWAS G5 security summit in Ouagadougou on September 14, 2019. Photo by Issouf Sanogo/AFP

PEZA chief Plaza doesn't think she's getting fired by Duterte

Sep 11, 2019 - 1:46 PM

'I don't feel I am the one being alluded to....I am facing all this risk because I want to protect the interest of the Filipino people,' says PEZA Director General Charito Plaza

Duterte to fire economic official for incompetence

Sep 11, 2019 - 8:45 AM

Without giving a name, President Rodrigo Duterte says a female official is getting the axe for not matching the performance of others in the economic team

President Rodrigo Roa Duterte delivers his speech during the 2019 Outstanding Government Workers Awards Rites at the Malacañan Palace on September 10, 2019. SIMEON CELI JR./PRESIDENTIAL PHOTO

IN CHARTS: Despite slower growth, employment improves in July 2019

Sep 05, 2019 - 4:40 PM

Underemployment falls and more young Filipinos enter the workforce in July 2019

NEDA not keen on setting floor price for palay

Sep 03, 2019 - 3:00 PM

Socioeconomic Planning Assistant Secretary Mercedita Sombilla says limiting how low palay prices can go would go against the purpose of the rice tariffication law

PEZA urges Congress not to 'tinker' with tax perks for investors

Sep 02, 2019 - 5:50 PM

PEZA Director General Charito Plaza says the current incentives are already 'globally competitive' and could help the Philippines attract investors as companies avoid the US-China trade war

Inadequate StatDev results highlighted in De Lima lecture series

Aug 27, 2019 - 8:43 PM

Advocacy organization Every Woman launches a lecture series to promote 'enlightenment' amidst Senator Leila de Lima's detainment

"FREE LEILA NOW." Every Woman reads its statement in the inaugural Leila de Lima Annual Lecture Series. A chair with De Lima's shawl is left empty. Photo by Michelle Abad/Rappler

Pernia to Congress: Pass 2020 budget on time to ensure economic growth

Aug 22, 2019 - 12:40 PM

Socioeconomic Planning Secretary Ernesto Pernia also asks lawmakers to consider extending the validity of the 2019 budget

FOR ECONOMIC GROWTH. Socioeconomic Secretary Ernesto Pernia urges Congress to pass the 2020 budget on time. File photo by Darren Langit/Rappler